£100m emergency loan fund for SME house builders

Category: COVID-19Property & Construction - Posted On: May 8 2020

The Scottish Government has unveiled a £100 million emergency loan fund to support house builders affected by the COVID-19 pandemic.

Small and medium-sized business with liquidity issues due to the temporary closure of the house building sector can apply for a short-term loan of between £50k and £1m spread over a two year term at a fixed 2% rate of interest.

Applicants building more than 5 homes a year, with a turnover of up to £45m, can apply for the loan from 2pm on Monday 18 May on the Governments website however they will have to explain why their existing support mechanisms are not sufficient for their business.

We will keep you updated as soon as information becomes available, in the meantime you can find the Government announcement here.

To discuss this, or any other funding, please get in touch with your usual EQ contact or call one of our offices.